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Wunderkind Eric Mindich - Eton Park's Six Sold Out

Posted
8/31/2013 7:35:00 PM
By: GuruFocus
Referenced Stocks:CMG;CXW;CYT;STZ;YPF

Founded by former Goldman Sachs youngest-ever partner Eric Mindich in 2004, Eton Park Capital Management is a multi-strategy hedge fund with offices in New York, London and Hong Kong. At present Eton Park has $19.4 billion in assets under management and Mindich has averaged a return of 21.88% over 12 months.

The updated portfolio of Eton Park Capital Management lists 44 stocks, 10 of them new, a total value at $5.23 billion, and a quarter-over-quarter turnover of 16%. The portfolio is currently weighted with top three sectors: communication services at 17.8%, consumer cyclical at 14% and consumer defensive at 12.1%.

Guru Eric Mindich made numerous reductions in the second quarter, and sold out these six companies:

Chipotle Mexican Grill Inc. ( CMG ): Sold Out

Impacts Portfolio: -2.6%

Up 41% over 12 months, Chipotle Mexican Grill Inc. has a market cap of $12.57 billion; its shares were traded at around $408.17 with a P/E ratio of 43.00.

Chipotle Mexican Grill Inc. develops and operates Mexican food restaurants in 35 states throughout the United States, the District of Columbia, Ontario, Canada and London England. Chipotle Mexican Grill Inc. completed its initial public offering in January 2006.

Guru Action: As of June 30, 2013, Eton Park Capital Management sold out its position, selling 400,000 shares at an average price of $358.71, for a gain of 13.5%. The trading history shows double-digit gains in the two prior quarters of this fairly new holding bought in the fourth quarter of 2012, when it gained 48.3% on 350,000 shares bought at an average price of $274.60.

Track historical pricing, revenue and net income:



YPF Sociedad Anonima ( YPF ): Sold Out

Impacts Portfolio: -1.1%

Up 36% over 12 months, YPF Sociedad Anonima has a market cap of $6.71 billion; its shares were traded at around $16.88 with a P/E ratio of 11.00. YPF Sociedad Anonima is an international energy company, based on the integrated business of hydrocarbons, focalized in Latin America, with a dominant position in Argentina's exploration, production, refining and marketing sectors.

Guru Action: As of June 30, 2013, Eton Park Capital Management sold out its position, selling 3,770,789 shares at an average price of $13.88, for a gain of 22.8%.

The trading history shows eight quarters of holding, dating back to the fourth quarter of 2010 with mixed results.

Track historical pricing, revenue and net income:



Cytec Industries ( CYT ): Sold Out

Impacts Portfolio: -0.84%

Up 10% over 12 months, Cytec Industries has a market cap of $2.74 billion; its shares were traded at around $74.53 with a P/E ratio of 20.50.

Incorporated in 1993, Cytec Industries is a global company, specializing in chemicals and materials that serve a diverse range of industrial markets.

Guru Action: As of June 30, 2013, Eton Park Capital Management sold out its position, selling 567,500 shares at an average price of $73.16, for a gain of 2.7%. The trading history shows five quarters of gains, topping out at a 33.9% gain in the first quarter of 2012.

Track historical pricing, revenue and net income:



McMoRan Exploration Co. ( MMR ): Sold Out

Impacts Portfolio: -0.49%

Up 12% over 12 months, McMoRan Exploration Co. has a market cap of $2.73 billion; its shares were traded at around $14.10 with a P/B ratio of 2.41.

McMoRan Exploration Co. is engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast region.

Guru Action: As of June 30, 2013, Eton Park sold out its position, selling 1,500,000 shares at an average price of $16.61, for a loss of 15.1%. The firm had bought these same shares in the fourth quarter of 2012 at an average price of $12.62, for a gain of 11.7%

Track historical pricing, revenue and net income:



Constellation Brands Inc. ( STZ ): Sold Out

Impacts Portfolio: -0.29%

Up 65% over 12 months, Constellation Brands Inc. has a market cap of $10.22 billion; its shares were traded at around $54.25 with a P/E ratio of 28.00.

A world producer and marketer of wine and beers, Constellation Brands Inc. operates two business divisions: Constellation Wines and Crown Imports.

Guru Action: As of June 30, 2013, Eton Park sold out its position, selling 300,000 shares at an average price of $50.40, for a gain of 7.6%. The firm bought these same shares in the first quarter of 2013 at an average price of $40.16, making a gain of 35%.

Track historical pricing, revenue and net income:



Corrections Corporation of America ( CXW ): Sold Out

Impacts Portfolio: -0.21%

Up 0% over 12 months, Corrections Corporation of America has a market cap of $3.86 billion; its shares were traded at around $32.91 with a P/E ratio of 11.90.

A partner to federal corrections agencies, Corrections Corporation of America is a large-scale owner and operator of privatized correctional and detention facilities and a prison operator in the U.S. It currently houses more than 80,000 inmates in more than 60 facilities, 44 of which are company-owned, with a total bed capacity of more than 90,000.

Guru Action: As of June 30, 2013, Eton Park sold out its position, selling 265,650 shares at an average price of $36.53, for a loss of 8.8%. The trading history shows five quarters of holding, dating back to the second quarter of 2012, the firm's highest quarter gaining 20.9% on the new buy of 1,233,400 shares bought at an average price of $27.56.

Track historical pricing, revenue and net income:



Prior to forming Eton Park Capital Management in 2004, Guru Eric Mindich spent 15 years at Goldman Sachs where he led the firm's equities risk arbitrage business and managed the firm's equities division. Mindich earned the "wunderkind" moniker as the youngest person ever to be named partner at Goldman Sachs.

Here is the complete portfolio of Eric Mindich.



Also check out:

1. Eric Mindich's Undervalued Stocks
2. Eric Mindich's Top Growth Companies
3. Eric Mindich's High Yield stocks
4. Stocks that Eric Mindich keeps buying

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